INTERVIEW-Turkey considering partnership in Iran gas project

Wed Feb 20, 2008 12:48pm GMT
 
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By Orhan Coskun

ANKARA, Feb 20 (Reuters) - State-owned Turkish Petroleum Company (TPAO) is considering working with partners to develop Iran's South Pars gas field, a project seen worth $3.5 billion, the company's general manager told Reuters late on Tuesday.

General Manager Mehmet Uysal said it would have to reach an agreement with Iran over any new partners.

"We are thinking of investing (in Iran) with a consortium ... We'd have to come to an agreement with Iran over partners. They could be either foreign or domestic," Uysal said in an interview.

Turkey has insisted on a series of energy partnerships with Iran, despite pressure from the United States to call off the deal. Washington has no diplomatic ties with Tehran and has been pushing for tougher sanctions on countries that invest in Iran because of concerns over its nuclear programme.

Analysts have also called into question the reliability of Iran as a supplier after frequent cuts in natural gas supplies to Turkey.

Uysal also said Brazil's Petrobras (PETR4.SA) would not be bidding in a new third tender for hydrocarbon exploration in the Black Sea, and that TPAO could take on other partners instead.

"Petrobras ... announced that it would not bid for the third (well), in which it was greatly interested. We could enter into a partnership with other companies," said Uysal.  Continued...

 

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